Mathematics, 05.05.2020 06:03, zoelynn9104
A marketing consultant is hired by a major restaurant chain wishing to investigate the preferences and spending patterns of lunch customers. The CEO of the chain hypothesized that the average customer spends at least $13.50 on lunch. A survey of 25 customers sampled at one of the restaurants found the average lunch bill per customer to be x¯=$14.50 . Based on previous surveys, the restaurant informs the marketing manager that the standard deviation is σ=$3.50 . To address the CEO’s conjecture, the marketing manager carried out a test of the hypothesis H0:µ=13.50 vs. H:µ>13.50 and obtained a P ‑value of p=0.077 .This result is significant at:
Answers: 3
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A marketing consultant is hired by a major restaurant chain wishing to investigate the preferences a...